Stocks – Dax Slips 0.22% as Caution Dominates Ahead of Fed Meeting

Investing.com – European markets slipped lower on Tuesday, as investors became more cautious ahead of the Federal Reserve’s highly-anticipated policy meeting this week, even as investors’ confidence remained globally healthy.

The Fed is widely expected to leave interest rates unchanged this week. However the U.S. central bank could give indications on when it plans to begin unwinding its balance sheet, as well as on any future interest rate decisions.

Meanwhile, concerns over tensions between the U.S. and North Korea remained subdued, although they were susceptible to pick up at any moment.

Elsewhere, German media company Prosiebensat 1 Media AG (DE:PSMGn) saw shares climb 0.66%, recovering from news on Monday that its video-on-demand service maxdome will not be profitable this year, contradicting earlier expectations.

In London, FTSE 100 dipped 0.05%, weighed by Paddy Power Betfair PLC (LON:PPB), whose shares plummeted 1.61% after the betting company was forced to apologize for allowing customers to bet on a dead former footballer becoming a manager.

The group briefly advertised odds of 66-1 on Ugo Ehiogu taking charge of Birmingham City, following the departure of manager Harry Redknapp over the weekend. Ehiogu died on April 20.

Coca Cola HBC AG (LON:CCH) added to losses, with shares down 1.44%. The bottling company made headlines last week when it announced that Chief Executive Dimitris Lois will be taking a temporary leave of absence.

Mining stocks were also broadly lower on the commodity-heavy index. Shares in Glencore (LON:GLEN) slipped 0.20% and Anglo American (LON:AAL) declined 0.69%, while rival company Antofagasta (LON:ANTO) tumled 1.05%.